Santos president Luis Alvaro de Oliveira Ribeiro says Chelsea and Manchester City have been given permission to speak to the 19-year-old sensation.

But Chelsea face competition from Real Madrid, Barcelona, and Russian side Anzhi Makhachkala after all five agreed to meet the mammoth release clause in Neymar’s contract in a bid to bring him to Europe.

Chelsea first went after Neymar last summer and they want to make him their first marquee signing under new boss Andre Villas-Boas.

Ribeiro said: “There is a release clause in his contract that can be paid. Five European clubs have offered to match the clause.

“I cannot name them because there is an agreement between Santos and the clubs, but they are the most important European clubs.

“They have asked to speak to the player, and we’ve allowed them to.” City have the cash to win a bidding war for the player, although he is understood to favour a move to a more established club.

But Anzhi Makhachkala are regarded as outsiders because of the racist abuse endured by their captain Roberto Carlos in Russia.

Chelsea had two bids for Neymar rejected last summer and Santos even accused them of making an illegal approach for the teenager.

But Ribeiro claims that is now water under the bridge. He said: “Last year, Chelsea’s attitude was different. Their first action was to seek out the player’s representatives.

“With this approach, they can talk to anyone – with Neymar’s father and with his agent and representatives.”

Starsport understands Neymar already has a contract offer on the table from both Chelsea and Madrid